Your local Real Estate agent

Portland Home Energy Scores

Did you know that as of January 1, 2018, all single-family homes listed for sale in the City of Portland will require a home energy score report? This report must be obtained PRIOR to listing the home and made accessible to any potential homebuyer.

This new requirement won’t affect homes currently listed, nor homes listed prior to December 31st. So there is a short-term ability to list your home before this new ordinance goes into effect.

Who does it affect?

If your home is in the city limits of Portland, you are required to have this Home Energy Score Report done by an approved Home Energy Assessor. This does not affect all Portland addresses, only those within the city limits. Don’t know if your home is in the Portland City Limits? Go to PortlandMaps.com and enter your address- if the Jurisdiction shows “City of Portland”, then you are within the boundaries that require the Home Energy Score. If it simply says, “Portland”, then you are not required at this time.

THIS ONLY AFFECTS “CITY OF PORTLAND” ADDRESSES

It also only affects single-family homes….which includes houses, duplexes, townhomes or any condo that does not have another unit below or above it. (Condos that have a separate unit below or above are considered “stacked” units and they are exempt from this requirement).

How do I find an approved Home Energy Assessor?

I have several I can recommend. This is something that needs to be done before listing the home and at this time, the cost is about $200-$250, but that will vary depending on the assessor you hire. Some assessors are claiming they have a goal of 24-48 hour response time, from the moment you place the call to schedule, to the time you have the report back in your hand! The inspection/assessment is estimated to take about 1-2 hours.

Why are they doing this?

We have become accustomed to ratings on products. Like when you buy a car- you like to know what the MPG is expected to be. It won’t necessarily prevent you from buying that car, it’s more for informational purposes. Some people are OK with purchasing a vehicle that only gets 15 mpg while others really want a car that gets 40+ mpg.

The Home Energy Score returns an estimated yearly cost of the energy that will be used by the home… and rates the home’s overall energy efficiency.

Here are some sample reports so you can see how they’ll look….

What I really like about this report is that it also provides a list of things you could do to improve the score of your home- adding insulation, sealing ducts, upgrading to more energy efficient heating equipment, windows, etc. If you DO decide to do any of those upgrades, the same company will come back and re-score your home for a significantly reduced fee.

THE BOTTOM LINE….

If you are thinking about listing your Portland home in the near future, and have questions….I’ve got answers! Just call, text, or email me and I’m more than happy to discuss options and timing and see if we can come up with a plan to maximize the value of your dollar and get you the most money out of your home.

Download my 2018 BUYERS GUIDE

Download my 2018 SELLERS GUIDE

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! Recently, the Institute for Luxury Home Marketing released its Luxury Market Report which showed that in today’s premium home market, buyers are in control. The inventory of homes for sale […]

Some Highlights: Interest rates are projected to increase steadily heading into 2019. The higher your interest rate, the more money you end up paying for your home and the higher your monthly payment will be. Rates are still low right now. Don’t wait until rates hit 5% to start searching for your dream home!

If you are considering selling your current home, to either move up to a larger home or into a home in an area that better suits your current family needs, great news was just revealed. Last week, Trulia posted a blog, Not Your Father’s Housing Market, which examined home affordability over the last 40+ years […]

As more and more baby boomers enter retirement age, the question of whether or not to sell their homes and move will become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs […]

Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state. Using data from the United States […]

Here are four great reasons to consider buying a home today instead of waiting. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.3% over the next year. The bottom […]

Some Highlights: Don’t forget to set your clocks forward this Sunday, March 11th at 2:00 AM EST in observance of Daylight Saving Time. Unless of course, you are a resident of Arizona or Hawaii! Every hour in the United States: 614 homes are sold, 81 homes regain equity (meaning they are no longer underwater on their mortgage), and the median home price rises […]

A recent report by CoreLogic revealed that U.S. home values appreciated by more than 37% over the last five years. Some are concerned that this is evidence we may be on the verge of another housing “boom & bust” like the one we experienced from 2006-2008. Recently, several housing experts weighed in on the subject […]